Policy

Nigeria’s apex bank, the Central Bank of Nigeria, CBN, has kept the interest rate at 14%. The CBN’s monthly monetary policy committee which made the decision shortly said it is not reducing the rate due to various macroeconomic indices which showed that Nigeria’s economic recovery is still fragile. The incoming […]

The Nigerian Stock Exchange has just released guidelines for its 2018 NSE Essay Competition. The topic for the 2018 NSE Essay Competition is “Discuss how technology can promote financial literacy and encourage investment habit among youths?” The NSE said in a statement that the 2018 edition aims to bring the […]

The Distillers and Blenders Association of Nigeria, DIBAN has condemned the new ”astronomical increase” in excise duty being imposed on domestic wines and spirits. In a statement made available to PageOne.ng, the Chairman of DIBAN, Chief Patrick Anegbe told newsmen on Wednesday in Lagos, that the hike was a threat […]

Nigeria’s President Muhammadu Buhari has just submitted a supplementary budget to the National Assembly totaling $750 million. Africa’s largest economy had passed a total of N9.12 trillion for the year 2018 (approximately $29.92 billion). According to Reuters, The new supplementary budget includes 164 billion naira to prepare for the 2019 […]

President Muhammadu Buhari of Nigeria said he will soon sign the African free-trade agreement, AfTA. Nigeria’s President refused to sign the African free-trade agreement very close to the signing ceremony after the country raised concerns on the impact of the agreement on Nigeria’s domestic economy. President Buhari said in a […]

Nigeria’s Securities and Exchange Commission, SEC, said MTN Nigeria has not filed papers for its initial public offering, IPO. It would be recalled that MTN was reported last week to have finalised all its plans for the IPO in August so far as it gets a go-ahead from the SEC. […]

For the 16th consecutive time, Africa’s largest economy, Nigeria said its headline inflation dropped to 11.61% for the month of May. Data released by the official statistics office, the National Bureau of Statistics, the Consumer Price Index (CPI) which measures inflation increased by 11.61 percent (year-on-year) in May 2018. This […]

To make good its plan to execute a currency swap with China, Nigeria’s Central Bank said it will start selling Yuan to local banks. The CBN is looking at doing an auction for the currency every two weeks. Based on the official circular, renminbi would only be used to finance […]

The Nigerian Postal Service, NIPOST, would soon be unbundled into five companies. The move is part of the plan to make the government enterprise more effective and profitable. The diversification will see NIPOST investing in eCommerce logistics and core financial services such as banking and insurance. The Minister of Communications, […]

Samsung has again failed in its bid to stop the payment of a $399 million fine it was ordered to pay to Apple. Since 2011, Samsung and Apple have been locked in a bitter legal tussle over copyright infringements claims by Apple. As reported by Mobile World live, in December […]